Air cargo transport in the Asia-Pacific region is returning to pre-Chinese New Year levels, with a significant increase in volumes and rising rates compared to the same period last year. According to the latest weekly data published on 28 February 2025 by WorldAcd Market Data, air freight demand has seen a steady increase, confirming a recovery trend.
The analysis covers the last five weeks up to 23 February 2025 and shows a 6% recovery in transported weight during week 8 (17-23 February), following a 20% increase in the previous week. This data brings volumes very close to mid-January levels. Notably, shipments from the Asia-Pacific region to Europe recorded a further 5% increase compared to the 30% rise in the previous week. Cargo from China to Europe grew by 5%, while Hong Kong maintained stable demand. Japan experienced a significant rebound of 19% on a weekly basis, returning close to its peak levels for the year. Substantial increases were also observed from South Korea (+7%), Vietnam (+8%), and Thailand (+18%).
Regarding shipments to the United States, total tonnage from the Asia-Pacific region rose by another 5% after a 28% increase in week 7, bringing it back to mid-January levels. Demand from China remained almost stable (+2% weekly), while Hong Kong and Japan recorded an 11% increase. South Korea (+9%), Taiwan (+9%), and Vietnam (+10%) also showed considerable growth.
Average spot rates from the Asia-Pacific region to the United States rose by a further 4%, approaching 5 dollars per kilo (4.99 dollars). Spot rates from China to the United States recovered by 9% after three consecutive weeks of decline, reaching 4.08 dollars per kilo in week 8. Prices from Hong Kong to the United States increased by 4% to 4.02 dollars per kilo. Conversely, rates from Japan and South Korea to the United States saw slight declines but remained high at 6.75 and 5.73 dollars per kilo, respectively. Rates from Vietnam to the United States (5.34 dollars) and Thailand to the United States (5.74 dollars) also grew by 4%.
For shipments from the Asia-Pacific region to Europe, spot rates fell slightly in week 8, settling below 4 dollars per kilo (3.99 dollars). Specifically, prices from China and Hong Kong dropped by 3%, while Japan recorded a sharper 6% decline. Rates from South Korea to Europe remained stable (+1%) at 4.16 dollars per kilo.
Globally, air cargo transport volumes in week 8 increased by 1% compared to the previous week. The 6% growth in the Asia-Pacific region was offset by declines in other areas, including Central and South Asia (-6%), North America (-2%), the Middle East and South Asia (-1%), and Africa (-1%), while volumes from Europe remained stable. On the pricing front, the global average rate, which includes both spot and contractual rates, rose by 2% to 2.32 dollars per kilo, mainly due to the 2% increase from the Asia-Pacific region.
Compared to last year, data shows an 8% rise in global average rates and a 9% increase in volumes. However, these annual comparisons should be interpreted with caution due to the different timing of the Lunar New Year, which fell on 10 February in 2024, whereas in 2025 it was celebrated on 29 January.
In the freight market from the Middle East and South Asia to Europe, demand remained stable in the last full week before the start of Ramadan. Significant increases were recorded in key markets such as Dubai (+23%), Sri Lanka (+9%), and India (+5%). However, shipments from Bangladesh continued to decline for the second consecutive week, dropping by 10% on a weekly basis. Although overall volumes on this route are lower than during the same period last year, this is primarily due to the extraordinary peak observed in early 2024 following attacks on container ships in the Red Sea.
Spot rates from the Middle East and South Asia to Europe further decreased in week 8, falling to 2.42 dollars per kilo (-2% weekly). While remaining below the levels recorded in the second half of 2024, these rates are still slightly higher (+3%) compared to the same period last year.
